ULTRALIFE CORP — Director's Dealing 2011

May 23, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ULTRALIFE CORP (ULBI)
CIK: 0000875657
Period of Report: 2011-05-20

Reporting Person: SPURGEON CORP (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-20	Common Stock	S	4000000	$4.5	Disposed	518616	Indirect

Footnotes

F1: As a result of the transaction reported herein, Spurgeon Corporation is an indirect beneficial owner, as General Partner of Grace Brothers, Ltd. of 518,616 shares.